Mobile Application Market Research, Key Players, Analysis And Forecast 2030: Grand View Research Inc.

Posted by Mrudula Anil Karmarkar on January 13th, 2025

San Francisco, 13 January 2030: The Report Mobile Application Market Size, Share & Trends Analysis Report By Store (Google Store, Apple Store, Others), By Application (Gaming, Music & Entertainment, Health & Fitness, Social Networking), And Region, Segment Forecasts, 2024 - 2030

The global mobile application market size is anticipated to reach USD 626.39 billion by 2030, exhibiting a CAGR of 14.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth is primarily attributed to the growing emphasis on maintaining a healthier lifestyle and the increasing demand for real-time access to health-related data, aiding users in managing their health, fitness routines, nutritional intake, and various physical activities. Moreover, factors such as declining internet costs, widespread smartphone adoption, rising disposable incomes, and the consequent surge in in-app purchases, particularly in the gaming sector, collectively contribute to driving market expansion.

Furthermore, there has been a surge in the adoption of on-demand live video consultation apps globally during the COVID-19 pandemic. While remote consultation services had been growing steadily in recent years, the onset of lockdowns led to a sudden increase in demand for live video consultations. This spike can be attributed to the negative impact of the pandemic on individuals' mental health and anxiety levels, caused by restrictions on movement and the fear of contracting the virus during in-person visits. Consequently, online consultation services experienced significant growth. The user-friendly interfaces and remote health monitoring capabilities offered by mobile applications have further fueled the uptake of healthcare apps for seeking medical advice and consultations.

In addition to gaming and healthcare apps, music and entertainment apps also present promising opportunities for revenue generation. The increasing demand for live streaming apps is anticipated to drive growth in the music and entertainment apps market. Platforms such as Netflix, YouTube, and Instagram offer live-streaming capabilities, allowing users to broadcast to a wider audience. These apps have gained popularity among content creators and social media influencers, who engage with their audiences regularly, enhancing the visibility and ranking of their channels and profiles.

Moreover, the global lockdowns imposed in response to the COVID-19 pandemic have positively impacted the growth of over-the-top (OTT) applications, as people seek entertainment options during leisure time. Consequently, there has been a significant increase in the average time spent on OTT apps during the pandemic, leading to a surge in demand for entertainment applications. However, as governments gradually reopen economies following the containment of the pandemic, it is anticipated that the year-on-year growth rate in the entertainment app segment will return to normal levels.

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It encompasses applications across various sectors including gaming, health and fitness, music and entertainment, social networking, retail and e-commerce, among others. Factors such as the widespread adoption of smartphones, increasing internet usage, and the integration of technologies like artificial intelligence and machine learning in mobile apps indicate a promising future for the demand of mobile applications (apps). Furthermore, these applications are commonly downloaded from platforms such as the Google Play Store and the App Store for iOS.

Mobile Application Market Report Highlights

• The market is expected to experience significant expansion in the foreseeable future, driven by the widespread adoption of smartphones, increased internet accessibility, and the rising utilization of machine learning and artificial intelligence technologies within mobile applications (apps).
• The Apple store segment accounted for the largest revenue share in 2023, owing to a higher monetization rate of iOS apps for revenue gained from premium apps and in-app purchases
• The music & entertainment application segment is projected to exhibit significant growth during the forecast period from 2024 to 2030, owing to an increase in demand for live-streaming apps such as Netflix, YouTube, and Instagram
• The Asia Pacific is expected to emerge as the fastest-growing regional market given the potential the region holds in terms of internet penetration and smartphone adoption. India and China are anticipated to remain the major markets, offering strong growth opportunities to all participants across the mobile application ecosystem.

The primary driver for market expansion is the notable surge in internet usage, particularly in emerging economies like Brazil, China, and India. Over the past decade, the internet has emerged as the predominant mode of communication across various devices, including tablets, smartphones, and laptops. The rise in the number of app consumers in recent years can be attributed to the growth of the e-commerce sector, the availability of various discounts and offers, and a diverse range of products exclusively accessible on online platforms. Additionally, the availability of affordable data plans and packages offered by telecom operators, which reduce internet costs and attract more users online, is another factor driving the increased downloads of applications across all platforms.

The combination of increased internet penetration and advancements in gaming technology has led to greater accessibility to games. Games like Pokémon Go utilize sensors such as motion sensors, gyroscopes, and accelerometers in tablets and smartphones to enable Augmented Reality (AR) and Virtual Reality (VR) capabilities through various apps on smartphone devices. Additionally, there are primarily three revenue models that game and app developers adopt, including in-game purchases, paid game applications, and in-app advertisements.

Mobile Application Market Report Scope

Amidst the recent coronavirus (COVID-19) pandemic, applications focused on social media, gaming, and entertainment experienced the highest number of downloads compared to other categories. Moreover, there has been a notable increase in demand for e-commerce, healthcare, and educational applications. The shift to remote learning in educational apps has created lucrative growth opportunities for online platforms and tech companies such as Google Classroom, Zoom, and Microsoft Teams.

The market growth stage is medium, and the pace of the market growth is accelerating. The apps industry is fragmented, with many app developers. Mobile application developers are utilizing advanced technologies, such as Artificial Intelligence (AI) and the Internet of Things (IoT). AI in applications can be used for supporting backend roles, such as facial recognition. Moreover, a mobile application integrated with IoT can provide users with valuable information. For instance, IoT-based apps can provide manufacturing companies with real-time information about machines.